Britain’s pre-epidemic economy at the end of 2021

LONDON (awp / dpa) – Activity in the United Kingdom, the country most affected by the epidemic in Europe, will return to its level at the end of 2019 at the end of this year, Bank Governor Andrew Bailey said on Monday in England (BoE) Of.

“The economy will actually return to the level it was at the end of the year where it was at the end of 2019”, especially thanks to the rapid progress of the vaccination campaign, he said during an interview with BBC Radio 4, something BoE A few days before the next monetary meeting of.

At its meeting in February, the institution anticipated that the recovery would be completed by early 2022.

Since then, economic indicators in the UK have not been particularly positive: GDP suffered a historic decline of around 10% in 2020.

According to the National Statistics Office (ONS), 2021 started in January with a decline of 2.9%, after an increase of 1.2% in December.

The country, which has suffered more than 125,000 deaths since the onset of the epidemic and is affected by a particularly contagious version, began strict prevention in January.

“There is no doubt that prevention is painful, but we are seeing” a drop in Kovid-19 cases, Mr. Bailey said, congratulating the government on the pace of the vaccination program, with 24 million Britons receiving the first dose.

He added, “However, it is interesting to see that over time, the economic impact of the effect dissipates, as we adapt.”

A total lifting of the sanctions is planned by the British government by the end of June.

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While financial markets are now concerned about a possible rise in inflation, Mr Bailey said the institute’s forecast model predicted a “return of inflation” to “2%” over the next two to three months, which is the goal of BoE.

afp / nj

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